Transatlantic Economic Relations in the Post-Cold War Era

March 01, 1998

Book
Foreign policy analyses written by CFR fellows and published by the trade presses, academic presses, or the Council on Foreign Relations Press.

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Financial Markets

Europe and Eurasia

United States

This book's American and European authors consider four aspects of the transatlantic economic relationship and its future. Specifically, will conflict or cooperation dominate in the coming years? Will the growing interdependence of the two continents' economies heighten policymakers' mutual interests and encourage them to collaborate in the pursuit of common goals, or will competition lead to conflict and recrimination? And how will the post-war tradition of economic policy collaboration adapt now that the glue of a common Cold War enemy has dissolved? The emerging picture is one of problems, not crises. An undercurrent of economic conflict and tension has rarely prompted U.S. and European policymakers to fundamentally reform their bilateral relationship. These essays thus point to incremental rather than revolutionary changes. However, if U.S. and European officials neglect the problem areas, the transatlantic economic relationship could deteriorate.

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